The purpose behind providing Cx13441 is discussed here and here, which we currently provide one copy for in Initial Disclosure packages.
This document is an addendum to the loan application (which, in most cases,…
A handful of states generally require certain notices (usually containing prescribed text) to be provided to “co-signers, co-makers, guarantors, endorsers, sureties, or similar parties” (the documents we provide for these requirements are listed in parentheses):
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Utah Code Ann. § 61-2d-105(1) & (2) requires, in connection with a high-cost mortgage, a disclosure to be provided to the borrower forewarning them of the potential consequences of obtaining such a mortgage. We provide Cx3774 (UT High Cost Home Loan Disclosures) for this requirement….
The NY Interest Rate Lock Commitment (Cx3588) is required under N.Y. Comp. Codes R. & Regs. tit. 3, §38.4(a) to be given in connection with a mortgage loan in which either the proceeds of the loan are used to purchase a dwelling or commitment fees or points are paid to the lender….
This document is required under Idaho Code Ann. § 26-31-211(9) and Idaho Admin. Code r. 12.01.10.050(4) to be provided to a borrower within three business days (including Saturdays) after a lock-in agreement is executed. The content of this document duplicates the model Confirmation Agreement published by the Idaho Department of Finance on their website (http://finance.idaho.gov/Mortgage/MortgageForms.aspx)….
This document is provided pursuant to the provisions of Md. Code Ann., Com. Law §§ 12-125(c) (1), 12-922(c), & 12-1022(c) and Md. Code Regs. 09.03.06.06(c) (2), which requires a lender to provide the borrower with a commitment if any of the provisions of the financing agreement are subject to change or determination after its execution….
We are retiring Cx3836, because Cx3705 (which currently prints) fulfills Washington’s requirements. The document Cx3705 is provided pursuant to Wash. Rev. Code Ann. § 19.146.0201(14) (b) and Wash. Admin. Code §§ 208-620-700(3) & 208-660-300(7), and contains both statutorily and administratively-prescribed language….
2014 Miss. Laws ML No. 12 (H.B. 696) was recently passed which amended Miss. Code Ann. § 89-5-24(2) to clarify that “the name, mailing address and telephone number of every grantor, grantee, borrower, beneficiary, trustee or other party” to the security instrument be included on the first page of such instrument (as opposed to the business address)….
This document is provided pursuant to the provisions of Cal. Fin. Code § 50203(a)(3)(A) & (B), which requires lock-in agreements entered into by licensees under the California Residential Mortgage Lending Act to contain (at a minimum) certain disclosures.
Cx7442 discloses a “Loan Fee,” the amount of which is pulled from Field 27605 (Total Fees Paid to Lender)….
Currently the PUD/Condo Name (Field 537) is required to be filled out in ConformX for several document package types if the property is a PUD or Condo. Since the PUD/Condo Name does not print on any critical documents for most document package types,…
These two documents are provided pursuant to the provisions of Tex. Fin. Code Ann. § 156.105 and 7 Tex. Admin. Code § 80.201. Form A is provided in cases where a borrower is conditionally qualified for a loan. Form B is provided when a loan application is approved on the basis of the borrower’s credit worthiness,…
Outside of their Uniform Covenants, the other covenants in the FHA security instruments need to closely match the language found in the 1990-version of the FNMA/FHLMC Uniform Security Instruments, though the sections following Section 18 may be amended to conform to “state law or practice” (see FHA Single Family Handbook 4155.2 ch….
This document is required under W. Va. Code Ann. § 46A-2-104 to be provided to cosigners of consumer loans, before any loan instrument is signed, and it contains statutorily-prescribed language.
Pursuant to our yearly audit of state disclosures,…
Washington laws concerning rate-locks can be found in Wash. Rev. Code Ann. §§ 19.146.010 and 19.146.030(2)(c) & (3), as well as Wash. Admin. Code §§ 208-620-510(3) & (4), 208-660-006, and 208-660-430(3)(C) & (6) through (8). The Washington Department of Financial Institutions published a model Rate Lock Agreement on their website (http://www.dfi.wa.gov/cs/mortgage_forms.htm),…
FHLMC Bulletin 2014-6 amends FHLMC Single-Family Seller/Servicer Guide, Vol. 1 ch. 22.19 & 58.3.2 to remove the concerning rent loss insurance for property which is a primary residence containing two to four units.
Pursuant to instructions contained in this Bulletin,…
This document is required by 104 Ky. Admin. Reg. 1:010(4) to be given to borrowers by “a person or entity engaged in real estate or real estate-related transactions” at “the time of sale, purchase, rental, insuring or financing of real property,” and is a duplicate of the pamphlet entitled “Fair Housing Brochure” published by the Kentucky Commission on Human Rights on their website (http://kchr.ky.gov/reports/brochures.htm)….
Cx3472 (also known as the “MLODs” document), is provided pursuant to the provisions of Ohio Rev. Code Ann. §§ 1321.592(B) & 1322.062(A) and Ohio Admin. Code § 1301:8-7-15(A). A model form is published by the Ohio Department of Commerce’s website (http://www.com.ohio.gov/documents/fiin_MLODS.pdf)….
In order make Cx25 more compatible for use in various types of loan packages, such as Rural Development (RD) guaranteed loans, two textual edits will be made to Cx25, as follows:
1. The first sentence after the “Buydown Schedule” will be changed from “In order to comply with FNMA guidelines ….
Cx14305 is provided pursuant to the provisions of N.M. Stat. Ann. § 58-21-31(B) & (F) and N.M. Admin. Code 12.19.8.12(A). We will be making changes to the borrower signature line sections on page 1. If the loan is not locked (“Rate Lock Initiated” field is set to “No”) the borrower names and active eSignatures,…
The Georgia-version of Cx2783 is provided pursuant to the provisions of Ga. Code Ann. § 7-1-1014(1) and Ga. Comp. R. & Regs. r. 80-11-1-.01(1), (4), (6), & (7). We will be making minor textual edits to this version of the document….
